DP World stated on Thursday that it is possibly going to begin using the fourth terminal at its flagship Jebel Ali port in the second half of 2019, following utilization of the terminal was postponed owing to a softening market.
The ports operator declared that the terminal is fundamentally ready for operations and has more cost efficiencies than Terminal 1.
“Whilst the aim was that this (Terminal 4) was believed to take in new cargo, specified the current hold up in the market place, we will utilize this chance to renovate Terminal 1 … and move some of the cargo to Terminal 4,” said Yuvraj Narayan, DP World Group’s chief financial officer.
He also added that throughout a press conference that the infrastructure of Terminal 4 is all set, although the company doesn’t plan to expand it further until the business environment improves.
The progress of Terminal 4 was set on hold in 2016 owed to demanding conditions in the shipping market and among a slowdown in the UAE’s economy as oil prices plunged.